SK Magic Achieves '1 Trillion Club' for 2 Consecutive Years

[Asia Economy Reporter Donghyun Choi] SK Magic announced on the 16th that it recorded consolidated sales of 1.0788 trillion KRW, operating profit of 71.2 billion KRW, and a cumulative rental account of 2.22 million in 2021.

Since its incorporation into SK Networks at the end of November 2016, SK Magic has demonstrated both growth and profitability by increasing sales and cumulative rental accounts by 2.3 times each, and operating profit by 2.6 times (excluding Malaysia's profit and loss) over five years. In 2020, it joined the '1 trillion KRW club' for the first time with sales of 1.0246 trillion KRW.

Despite the prolonged COVID-19 pandemic and challenging business environment last year, SK Magic’s core products such as water purifiers, dishwashers, electric ranges, gas ranges, and ovens performed well, solidifying its leading position in the market. It also achieved an upgrade in credit rating to ‘A+ (stable)’ from all three major domestic credit rating agencies.

Additionally, the Triple Care Dishwasher Wide and Borderless Induction Range won innovation awards at the International Consumer Electronics Show (CES), and its core products achieved a grand slam by sweeping the world’s top three design awards (reddot, iF, IDEA), enhancing its competitiveness in the global market. Alongside this, SK Magic actively expanded and secured its position in the eco-friendly home appliance market by launching the Green Collection, including the All Clean Air Purifier and Eco Mini Water Purifier made from eco-friendly materials (PCR-ABS).

Efforts to provide strategic partnerships and differentiated customer experiences (CX) also contributed to growth. A new concept rental service combining Samsung Electronics’ major home appliances with SK Magic’s rental services was launched. SK Magic also introduced bundled products with SK Telecom and expanded its sales stores nationwide to over 3,300 locations. Furthermore, it strengthened customer-facing marketing based on customer experience by opening It’s Magic, a new concept brand experience space, and launching experiential stores in a ‘Shop in Shop’ format through SK Telecom stores.

Yoon Yoseop, CEO of SK Magic, stated, “SK Magic plans to continue securing differentiated competitiveness and growth through its evolution into a ‘Home Life Curation Company’ that provides various products and services in the forms customers desire. We will spare no investment and effort to continuously offer industry-leading products and services with customer value as our top priority.”

This content was produced with the assistance of AI translation services.